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Correlation
of values
+72%
In sync
of periods
53%
History
monthsmonths · through 2026-06
244
These move in the same direction about 53% of the time
When one swings, the other often swings by a similar amount (~52% of the pattern is shared).
Roughly random — these don't track each other in a meaningful way.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
USD/DKK Exchange Rate moves ~15 months before Avg Hourly Earnings
Watch USD/DKK Exchange Rate for an early read on Avg Hourly Earnings.
Holds in both up and down markets
The relationship is similar whether prices are rising or falling — reliable in both directions.
Flips between sync and inverse
Sometimes the two move together, sometimes opposite. Don't treat this as a stable signal.
Advanced
Statistics
In sync(i)
53%
Headline metric
Movement correlation(i)
+72%
Based on values
95% CI
+65% → +78%
Likely range of correlation
Pipeline
Pipeline Summary
244 paired data points survived the monthly window.
Raw input
244
13,931
Normalized
244
13,931
Prepared
244
667
Aligned
244
244
Invalid removed
R²(i)
52%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points(i)
244
Usable
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -18 to 18 months.
Selected shift
-15 months
Correlation at this shift
+78%
+6% stronger than no-shift baseline
USD/DKK Exchange Rate shifted 15 months later. Reads: "Does Avg Hourly Earnings today line up with USD/DKK Exchange Rate 15 months ago?"
229 overlapping points at this shift
Baseline
+72%
No-shift correlation, matching the main time-series chart above.
Peak shift
-15 months
+78%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-4%
117 periods · Return correlation when both series rose
Both Falling
+20%
8 periods · Return correlation when both series fell
Diverging
-17%
118 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
423
A: 0 / B: 423
Series A
Avg Hourly Earnings
CES0500000003
FRED · 244 raw → 244 prepared
Series B
USD/DKK Exchange Rate
DEXDNUS
FRED · 13,931 raw → 667 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.0931
Linear regression slope.
Intercept
3.6586
Linear regression intercept.
Saved 3 months ago · ID: fred-ces0500000003_fred-dexdnus_monthly_5y